Top critical review
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Many, many errors in the examples given
on 14 May 2012
Unfortunately I do not have other books as a basis for comparison... well, except for Ernst & Young's International GAAP and Preparing Company accounts, but these are more of "reference" books than student texts.
So as such, I will offer my thoughts on the merit of this book alone.
Insofar, having covered most of the topics in this book (as part of my degree course), I have encountered numerous errors in the workings, and sometimes rather abstract explanations offered in some of the concepts.
This may not sound a like a big deal, but when you are covering a subject where errors are penalised, you would probably tend to get confused as to why you are arriving at a different figure to that of the texts. You are then unsure if it is because you have not grasped the concept properly, or whether these are genuine mistakes.
And valuable time can be lost if this becomes frequent.
Example: page 117, part b) 90,000(1 - 120/100*) = loss 8181
* should be 110.
In other cases, such errors are more obscure.
Also, why does it not include answers? Why do I have to log on to a website to then check these? This hinders any student who wishes to check answers "on the fly".
However, this book does provide a comprehensive reference for standards, regulations and the implementation of such into preparing financial reports.